[AMA] Hi Ozb - I'm a Private Wealth Advisor

LSplice89 on 06/02/2025 - 15:16

Hey OzB,

I'm an experienced Private Wealth Financial Advisor, and I’ve spent over a decade helping professionals, business owners, and high-net-worth individuals navigate the complexities of personal finance and wealth management. Whether it’s retirement planning, investment strategies, tax efficiency, intergenerational and legacy planning I’ve seen and handled it all.
Given the ever-evolving financial landscape and the unique challenges it presents, I thought it would be great to host an AMA. I'm here to answer your questions about:

  • Investment strategies – How to build and grow wealth effectively
  • Retirement planning – Making sure you're on track for financial independence
  • Market trends & economic shifts – What they mean for your portfolio
  • Risk management & insurance – Protecting your wealth and family
  • Estate & legacy planning – Ensuring a smooth wealth transfer
  • Financial planning for business owners & executives – Maximizing opportunities
  • Debt management & tax-efficient strategies – Keeping more of what you earn

A bit about me: I spent the first deceade of my career as a Private Wealth Advisor in Australia’s largest Private Banks and now run recently running my own business, focusing on helping clients make confident, informed financial decisions without the fees associated with the Private Bank offering.

Disclaimer: While I’m here to provide general financial insights and information, this does not constitute personal financial advice. Every situation is unique, and I recommend consulting a financial professional for specific guidance.

So, OzB, what do you want to know about financial planning and wealth management? Ask me anything!

Introduce Yourself

closed Comments

      • ihbh on 06/02/2025 - 15:32

        Do you do your own tax return - all of the structures?

        • Splice89 on 06/02/2025 - 15:38
          +3

          No I don't. Whilst I was originally an accountant, I spend more time on what I'm passionate in and using an accountant is always beneficial imo.

          • ihbh on 06/02/2025 - 15:50
            +2

            @Splice89:

            I spend more time on what I'm passionate in

            Like sales and marketing? ;)

            My different take:

            I realise there's a school of thought that you should focus on what you're good at, the big picture, where you can add the most value, etc., and outsource the rest (e.g. Ferriss' crap), in some areas, you need to be across the big picture but also some of the details, … like wealth management, investments.

            I mean WB does his own tax returns.

            And the ability to do some of the details, means you have the ability to set up systems, etc., which I assume would be needed in wealth management. Also, in your case, at a young age, with fewer assets/complexity, it wouldn't be that onerous.

            • Splice89 on 06/02/2025 - 15:55
              +3

              @ihbh: Yes I guess time is the most valuable commodity anyone has. Tax legislation is also forever changing so I just pass this service on. I think I pay my accountant $325 per year which to me is money well spent. I have multiple structures but less complex of course than most of my clients I deal with.

      • original15 on 06/02/2025 - 15:50
        +2

        At what point do trusts make sense for your clients?
        Is it different if self employed / running a business vs salaried?
        Does it depend on investment returns?

        • Splice89 on 06/02/2025 - 15:53
          +3

          Trusts aren't that expensive to setup through the right channels… maybe $1-2k. So assuming the tax benefit you get from setting one up is higher than that (and the ongoing fees with the accountant) then I'd say speak to your accountant about it. You benefit most from splitting the income / tax across spouse/children. You also get asset protection in the case you are ever personally sued then these assets are much more difficult to access.

          • zrach on 07/02/2025 - 22:30

            @Splice89: Is this only beneficial for families or can individual people benefit?

        • ihbh on 06/02/2025 - 16:17
          +8

          The best advice I can give (can't say advice because I don't know your personal situation) to individuals is: do you think you'll earn a decent income (salary and/or investment income) and be able to retire early and you're not a loner. If so, you're partner is unlikely to work. A family trust lets you conveniently split some income (e.g. investment income) with them to take advantage of their tax-free threshold and lower rates. Not helpful with children (can only really split $416 to kids) until they turn 18.

          Obviously, you can manually do it - buy the investments in the lower income spouse's name.

          To move assets into a family trust later could incur CGT and stamp duty. There are some ways around this like drawing down equity, but easier to have it in place at the start.

          It only costs ~$1-2k to set up and the annual tax return is more than an individual's. If you have corporate trustee, etc., you also need to pay ASIC fee.

          Like SMSFs, most individuals don't need it, but they sound sexy and unscrupulous service providers can sell them for much more, attaching the fear of people going after your assets, etc.

          If you've got a risky business, and you've got assets, for sure, you'd need it for yourself for the asset protection. but in general for businesses, you'd need more specialist advice (e.g. to put the company in a separate trust, etc.).

          • Splice89 on 06/02/2025 - 16:42

            @ihbh: I'd agree entirely with this.

            • original15 on 06/02/2025 - 16:55

              @Splice89: Thanks @Splice89 and @ihbh on my mind for future, a lot with my skills and training end up running their own business and pretty much being sole operators advising and coaching, can see benefit from a trust down the track, for now maybe not so much, income from investments isn’t huge (accumulating shares only at this stage) but if running my own shop benefits would be different for splitting income across spouse etc
              Thanks

          • eek on 07/02/2025 - 09:52
            +1

            @ihbh: In this situation if one parent is a PAYG employee making over $250K + super, have 2 young kids and spouse isn't working, how does that parent split their income with a trust to reduce income tax?

            • ihbh on 07/02/2025 - 11:43
              +1

              @eek: Unless you can get the salary paid into a company owned by the FT, it can't be split. That's why a FT is not beneficial for most people, and at least not immediately.

              I gave example of investment income. E.g. FT owns shares, dividends can be streamed to beneficiaries to optimise. Also, FT ownership of a business, etc.

              • Splice89 on 07/02/2025 - 22:39

                @ihbh: Correct - you need to be earning income through the company :
                Trust. This may include an investment Portfolio, investment property or running a business.

          • leiiv on 09/02/2025 - 22:35
            +1

            @ihbh: Can a PPOR be put under FT and still be a PPOR?

            • ihbh on 14/02/2025 - 13:32

              @leiiv: By "still be a PPOR" I assume you mean can you still get the CGT exemption when you sell.

              No, but there might be exemptions. You need financial advice for this. Also, be clear on why you want to "put" in under a FT.

  • Gdsamp on 06/02/2025 - 15:43
    +2

    Do you follow your own advice

    • Splice89 on 06/02/2025 - 15:45
      +1

      Yes, I have invested in a similar manner to my clients with variations due to my age / access etc. I have since sold to pay off home loan debt, however, felt it was a useful exercise to understand my own behavioural biases. Structure and discipline is key in investing.

      • dimitryp on 08/02/2025 - 14:49

        Does this mean you dont believe any investment you could make could exceed a 6% per-annum return over the long term (avg homeloan rate) (excluding taxes, etc, that could be quite variable)

        • Splice89 on 10/02/2025 - 09:19
          -1

          The biggest difference is whatever you put against your home loan provides you with a guaranteed return which you don’t get in investing. Tax is also important as whatever you earn in an investment you generally have to pay tax which means it’s not 6% to beat it more like 9% (in my case due to tax) and therefore it’s not worth the risk. Of course when rates eventually come down then this calculation adjusts.

  • mskeggs on 06/02/2025 - 15:48
    +1

    Do you feel that wealthy people have any moral duty to help others?

    • Splice89 on 06/02/2025 - 15:50
      +6

      I do. Some of my client's do and don't share that view and I respect that as making money (esp first gen) is hard and they want to benefit their family before society. In saying that, we setup a number of Philanthropic Funds for clients which donate money to charity (4%) into perpetuity. This is also a great tax reduction strategy and a good way to involve the next generation.

      • rangabeard on 06/02/2025 - 16:27

        as someone who works on the philanthropic side, how do your clients generally arrive at their giving strategy? and any tips you would have for influencing or informing that decision?

        • Splice89 on 06/02/2025 - 17:00
          +4

          I generally bring this up in initial discussions with clients. I.e "Do you wish to give to charities" "Is leaving a legacy important to you" "Are you interested to deductible tax benefits that also contribute to your specific cause". It is also part of our initial fact finding documentation to make clients consider it. Public Ancillary Funds can be started for $15k these days so if client's are already donating $3k per year it already makes sense.

  • Dollar General on 06/02/2025 - 16:01
    +2

    Do many people ask how to get wealthy the old school way - slow, or is it all about crypto and onlyfans these days?

    • Splice89 on 06/02/2025 - 16:12
      +5

      I did actually have a prospect client who has made quite a fortune from OF. Haven't met too many Crypto Millionaires just yet but I'm sure I will in the future. The one theme I've seen across many client's I've met is largely business owners generally do the best given the tax concessions they've received over their lifetime as opposed to paying personal income tax unless of course you're a CEO/Doctor etc. Old school way still works for many people its just the way in which you do it.

  • blueduck4 on 06/02/2025 - 16:07

    I am a NZ citizen, and I live in Australia. I am eligible to apply for Aus citizenship as of now.
    However, I am confused with tax. I want to register my business overseas as I might move, or perhaps mitigate tax as I'll be in-between both countries. But there is a tax rule that stipulates that I have to pay tax on foreign income if I satisfy these residency tests.

    Do I bother applying for the citizenship? What benefits do I even get? Does it even matter since NZ citizens are considered perm residents for tax purposes (dont quote me on this one)?

    • Splice89 on 06/02/2025 - 16:15
      +3

      Ooo this question is a good one but I would generally refer clients to a specialised cross-border tax agent to weigh up pros/cons of receiving citizenship. If you are a foreign resident, you are not entitled to the main residence exemption from capital gains tax (CGT) for property sold after 30 June 2020 which I think is one big thing. But yes sorry, I can't specifically answer your question sorry!

    • 1st-Amendment on 06/02/2025 - 17:34

      Do I bother applying for the citizenship? What benefits do I even get?

      Ask not your country can do or you, ask what you can do for your country.

    • Scrooge McDuck on 09/02/2025 - 16:08

      AFAIK, citizenship is irrelevant to the residency tests — they apply regardless of citizenship.

      These tests are very broad reaching and are relatively new. They and the tax rates in Australia are uncompetitive with the rest of the world. So if tax laws continue in the present direction it is foreseeable that Australian citizenship itself could become a liability for tax purposes.

      It's great that you're thinking ahead about it. I wouldn't take on Australian citizenship unless I had a significant benefit from it.

  • Gdsamp on 06/02/2025 - 16:22
    +1

    Do you appreciate when companies price gouge and make products/services worse for the customer because it generates more value for shareholders?

    • Splice89 on 06/02/2025 - 16:26
      +4

      I find it incredibly frustrating and short-sighted. The customer is the heart of any business, so any decision that could jeopardize that relationship should always be carefully considered first. I've seen this mistake happen far too often, which is one of the reasons I chose to run my own business—to have full control over these decisions.

  • welcomeUniverseWorld on 06/02/2025 - 16:30

    Do you look after smsf that invests in Bitcoin & crypto?

    • Splice89 on 06/02/2025 - 16:41
      +4

      I don't unfortunately but understand why people wish to invest in those asset classes. I have a duty of care in my role to provide recommendations to clients which are back tested and based on fundamentals. Whilst I always watch the surge and fall of crypto's, I only seeing it playing a small part in a client's portfolio (i.e through an ETF) as it is hard to quantify it's value. This may change overtime but is not something I look after at present. Good luck!

      • 1st-Amendment on 06/02/2025 - 17:35
        +1

        I don't unfortunately but understand why people wish to invest in those asset classes

        Same reason they play pokies…

      • welcomeUniverseWorld on 06/02/2025 - 17:52

        Does your back test show Bitcoin is a bad investment? And why? What negative flags do you get in your back test?

        • askbargain on 06/02/2025 - 21:38
          -1

          Past performance doesn’t guarantee future performance. Back testing is useless.

          • welcomeUniverseWorld on 07/02/2025 - 16:30

            @askbargain: He said "recommendations to clients which are back tested and based on fundamentals". This is why I asked. What back testing shows Bitcoin is a bad investment. Seriously interested to know from a professional!

            • Splice89 on 07/02/2025 - 22:44
              +4

              @welcomeUniverseWorld: Great question- if you look at fundamental analysis for stocks /
              Bonds / private equity / venture capital there is income / growth there to justify valuations which gives me comfort to provide a recommendations. Crypto, at
              Least this point in time, is a bit like
              Gold, it rallies off a rage / scarcity factor
              Which doesn’t fulfill me confidence to invest. I believe clients should hold an exposure but not add 100% to their portfolios given the risk associated with largely comes from political or social pressures.

  • dust on 06/02/2025 - 16:51
    +5

    Are you hoping to drum up some business on OzBargain? If so, what's the range in fees you charge (from simple to more complex advice)?

    • ihbh on 06/02/2025 - 17:04
      +2

      … or are you looking at a subscription model?

    • Splice89 on 06/02/2025 - 17:47
      +2

      Ha thanks! My first inclination to do this was not with that in mind but rather answer some questions as I know the threshold typically to even speak with Private Wealth Advisors can be high generally speaking so happy to pass on any knowledge I have (without specifically giving advice of course!). For my business, we charge 0.85% of Assets under Management up to $1m and a reduced rate after $1m depending on the size of assets. We felt this was a fair fee as it covers our fixed costs as well as being much lower than the Private Banks (1.1 - 1.3%). Our minimum account size is $1m (which could be combined across multiple accounts). If it is complex advice, we typically charge an upfront fee for the initial Statement of Advice which is tailored to the circumstances.

      • ihbh on 06/02/2025 - 21:02
        +3

        Can I get clarification of pricing model (not for me; just to understand).

        Say a client had a spare $1m and the best course of action was to put it all into super.

        1. Would you classify this $1m as AUM? Or is it AUM only if the $1m goes into a fund recommended by you - e.g. not an industry fund, but some other fund on your list?
        2. What about other assets the client owns such as a principal residence, investment property, direct shares, managed funds in their own name - would this be considered as AUM? And if so, how would you value the illiquid assets?

        How do you track/demonstrate your value add to a client? Is there some benchmark (representative, but not too onerous to calculate) you agree on at the start of a relationship?

        • Splice89 on 07/02/2025 - 22:48

          This is a fantastic question. $1m is purely what we would look after. We would consider industry funds for clients but it depends on the circumstances as a lot of their investment decisions we based on extremely long time frames which doesn’t work for our typical clientele. As for performance, as we view risk as the #1 priority for clients, we did slightly undertook for CY24 given the tech rally which based on valuations, we think, is unsustainable. Outside of CY24 we have outperformed the index.

      • JIMB0 on 06/02/2025 - 22:49
        +8

        Do you have a track record of outperforming the Vanguard funds that charge a fraction of the fees?

        • Splice89 on 07/02/2025 - 22:50

          see above. The key differentior here also is not just investment performance. We structure and locate assets in such a way that after tax we do incredibly well. Reducing tax is guaranteed, investment returns aren’t but we do all we can to maximise this where we see opportunities

      • leiiv on 09/02/2025 - 22:40

        What kind of fee is that? Per annum? Once off?
        Does it also include advice on new and creative tax loopholes?

  • Godric on 06/02/2025 - 17:15
    +1

    Any recommended personal financial advisors or firms in Melbourne?

    • Splice89 on 06/02/2025 - 17:55
      +1

      I’m also based in Melbourne and have worked with many advisors, so I can provide some recommendations if needed. When selecting a financial advisor, consider the following:

      Qualifications & Accreditation – Do they hold credentials such as CFP®, Master of Applied Finance, or CFA?

      Client Satisfaction & Transparency – Are their client satisfaction scores independently tracked? Are they open to having you speak with existing clients about their service?

      Investment Independence & Access – Is their investment approach truly independent and best-in-class? Do they offer access to all asset classes, including alternatives?

      Scope of Services – Do they provide comprehensive financial planning, or only investment management? The best advisors integrate strategic advice with investment planning to maximise your chances of achieving your goals. I've worked in just Investment Firms are have seen this go wrong too many times.

      Firm Reputation – Is the firm well-regarded and reputable in the industry?

      Hope this helps or PM me :)

  • randomusername2017 on 06/02/2025 - 17:45
    -1

    No AMG mention yet?

  • theHMASfriendship on 06/02/2025 - 18:03
    +1

    I have a couple of questions.
    1) What is your favourite pizza topping?
    2) If you were stranded on desert island what 5 albums would you take?

    • ForkSnorter on 07/02/2025 - 07:33
      +1

      1) What is your favourite pizza topping?

      Gorgonzola cheese with honey, and if available: black truffle

      2) If you were stranded on desert island what 5 albums would you take?

      5 albums would only keep boredom at bay for about half a day. Listening to the same things over and over is mind-numbing. It's so much nicer to constantly listen to new music, so wifi access is preferable, but here you go:

      1. Scheherazade by Rimsky Korsakov (if they could squeeze the first movement of Antar on the disc, that would be even better)
      2. Kind of Blue by Miles Davis
      3. Bryter Layter by Nick Drake
      4. Piano Concerto No. 2 by Rachmaninov
      5. Revolver by the Beatles
      • theHMASfriendship on 07/02/2025 - 07:39
        +2

        Nice, mine are
        1) Onion
        2) 5 copies of the Shrek 2 Motion Picture Soundtrack

        • ForkSnorter on 07/02/2025 - 07:43

          Haha. I'll try onion on my next pizza. Any cheese on that?

    • Splice89 on 12/02/2025 - 13:27

      1) Artichoke - heavily underrated
      2) Rufus (Surrender and Solace), Lane 8 (Reviver), Ratatat (Classics), Paul Kelly (Greatest Hits)

      • theHMASfriendship on 12/02/2025 - 13:46
        +1

        Nice, mine are
        1) Onion
        2) 5 copies of the Shrek 2 Motion Picture Soundtrack

  • Reggie74 on 06/02/2025 - 18:46

    What's a common myth about investing?

    • cloudy on 07/02/2025 - 10:09
      +3

      Efficient market hypothesis

      • ChatGPT on 07/02/2025 - 14:58

        There's a reason why it's still a hypothesis!

      • Splice89 on 07/02/2025 - 22:51

        100% markets are not efflicient at all

  • SBOB on 06/02/2025 - 20:34
    +16

    How do you justify to investors your service fee compared to say VDHG/DHFF/VGS&VAS and chill kind of investing, which likely over the long term returns equal or more than your higher fee 'management' investing option?

    • Splice89 on 12/02/2025 - 13:42

      Great question and one that comes up often. The biggest driver of portfolio returns, about 90%, is asset allocation, not just picking between VDHG, VGS or other ETFs. The focus should be on determining the right mix of asset classes such as Australian and global equities, fixed interest, venture capital, hedge funds and private equity to give investors the best chance of meeting their objectives, whether that is income or long-term growth.

      While passive investing has its place, the key is knowing how much to hold and when. Right now, for example, VGS has around 30% in IT stocks, creating a concentration risk similar to the dot-com crash. Managing these risks proactively is where real value lies.

      Beyond investments, Financial Advisors provide value through tax strategies, estate planning, risk management and structuring assets for tax efficiency, factors that often outweigh investment selection alone. A major benefit of advice is behavioural coaching, helping clients avoid costly mistakes like panic selling or chasing performance. Many underperform not because of bad investments but due to poor timing and emotional decisions.

      ETFs may be tax-friendly, but they do not offer tailored tax strategies like tax loss harvesting, asset location or franking credit optimisation, which can significantly improve long-term wealth.

      Lastly, financial plans must adapt to changing markets, tax laws and personal circumstances. For those who enjoy managing their own portfolios, tax, strategic positioning and other holistic services, ETFs can be a great low-cost option. But for those who want a structured, optimised approach with expert guidance, professional advice delivers value well beyond the fee.

      Russell Investment predicts the value of a Financial Advisor is approx 5.7% https://www.moneymanagement.com.au/news/financial-planning/t… and Vanguard predict it to be ~3% https://www.ch.vanguard/content/dam/intl/europe/documents/en…

  • Typical16-bitEnjoyer on 06/02/2025 - 20:59
    +2

    Did you dust off your OzB to spruik for new clients?
    Be honest. You've barely touched it in 4 years other than some qantas points banter.

    • Splice89 on 12/02/2025 - 13:44

      I use OzB daily - just realised my App on my iPhone was never logged in. New clients wasn't the goal here, I just hope I can be helpful.

  • pencilman on 06/02/2025 - 21:05
    +11

    Reading Splice89's replies so far on this on this thread, I've been impressed.

    My opinion is that he/she has provided solid general info, so Splice89, you pass the crapologist test for me.
    Look forward to reading more of your replies.

    • bokka on 08/02/2025 - 15:04
      +2

      Agreed! Solid responses.

    • Splice89 on 12/02/2025 - 13:44

      Thanks heaps!

  • jv on 07/02/2025 - 00:43
    +1

    Ask me anything!

    What colour is your underwear?

    • shoppe on 07/02/2025 - 15:56
      +2

      One will never get wealthy by spending your money on unnecessary clothing items. (Does that answer your question?)

      • zathras on 07/02/2025 - 23:15
        +1

        But never go commando in another mans fatigues!

    • Splice89 on 12/02/2025 - 13:44

      grey

  • wannagrababargain on 07/02/2025 - 08:30
    +2

    Not everyone has $1m cash lying around to invest but many people in their middle ages are easily hitting $1m+ net worth. This industry is very confusing to a lot of people who might have a little bit of financial literacy but are not yet classed as 'high worth.'

    Say someone already has a few investments, are moving through stages of life, marriage etc, looking to continue expanding their portfolio with the aid of a professional but not necessarily looking to have their investments under management of an advisor. What would you call this type of professional? Financial advisor? Wealth advisor? Financial planner? First thing people do is often go to their bank but as you say the banks have stitched it up with high fees and own goals. Is it possible just to pay someone a one-off fee to review everything and make recommendations?

    • amsaini15 on 09/02/2025 - 07:55
      +2

      Excellent question. I am looking for answer too.
      As a average family, we just need general advise on how to setup and what to do regularly with investment. We don't need regular changes to our portfolio or strategy because we just PAYG and planning the retire in X number of years.

      @Splice89 can you please help?

  • Oztack on 07/02/2025 - 08:54
    +2

    I remain intrigued by the common pricing model of charging fees based on assets under management. Can that be rationally justified?

    Does a $5 million dollar account with 25 securities in it take less 'work' for you than a $10 million account with 25 securities?

    Shouldn't the cost be based on work involved (perhaps reflected in the number of securities) rather than based a simple number?

    Having a client declared as a 'wholesale investor' reduces the amount of paperwork you need to generate (a lot!) when offering advice - do you charge your wholesale investors less?

    • Typical16-bitEnjoyer on 09/02/2025 - 15:57
      -1

      Can that be rationally justified?

      Nope. Clients have lots of money so they want to move more of that money to their own pockets.

  • eels are best on 07/02/2025 - 09:19
    +1

    @Splice89 Hi thx for taking time to start this thread. So my understanding is that when I turn 60 and not employed/retired I can withdraw my super tax free as a lump sum?
    So at age 60, technically I'm not employed but could I earn income from doing market research/surveys for various companies?
    Could I also earn short term capital gains regularly by trading Aussie futures markets? Would doing these still be classed as being retired from the workforce in the ATO's eyes?

  • cloudy on 07/02/2025 - 10:10

    what's your favourite book/books?

    • Splice89 on 12/02/2025 - 13:51

      Psychology of Money & Rich Dad Poor Dad

  • cloudy on 07/02/2025 - 10:12

    Do you (or the industry generally) receive fees from the investment products recommended by the wealth advisor?

    • Splice89 on 12/02/2025 - 13:53

      I definitely do not, but unfortunately, there are still advisors in the industry receiving payments for products. This was meant to be eliminated after the royal commission, but instead, it remains a grey area that some wealth firms continue to exploit. It is important to tread carefully and always ask any Financial Advisor how they are remunerated to ensure there are no conflicts of interest.

  • andrek on 07/02/2025 - 12:53
    +1

    What education/licenses do you have? Say if, hypothetically speaking, I would want to provide the same services as you do - what would it entail to legally be able to do what you do?

    • Splice89 on 12/02/2025 - 13:56

      I have a Bachelor of Commerce, Master of Applied Finance (AQF 9), Accredited Derivatives Adviser (ADA1 and ADA2), Am FASEA Approved and have the RG146. I believe though, the minimum these days is:

      an approved Bachelor degree or higher
      a professional year of supervised experience
      a financial adviser exam, set by ASIC

    • Splice89 on 12/02/2025 - 13:57

      I'm sorry if I'm not reading this right but you are asking on suggestion to invest for yourself or your son?

  • peterw1 on 07/02/2025 - 14:05

    did you see the Global Financial Crisis coming and if so pre-emtively move into a defensive position such cash

  • tomlikesbeetroot on 07/02/2025 - 14:06

    High income earner - should I buy investment property in own name for tax benefits, or in a trust to preserve borrowing capacity?

  • arescarti42 on 07/02/2025 - 15:30
    +1

    What are the most common mistakes you've seen clients/friends/family make?

    • Splice89 on 12/02/2025 - 14:46

      Investing in a portfolio while carrying non-deductible debt is a common mistake, especially among friends or prospective clients. When interest rates were low, it was somewhat justifiable, but with rates now at 8-9% (depending on income), it means trying to outperform a guaranteed, tax-free return which is a tough benchmark.

      For clients, another common mistake is either investing more after markets have already had a strong run or delaying their initial investment, hoping for a better entry point. While this can sometimes make sense in extended bull markets, history shows that mean reversion plays a role over time, and investing more during market sell-offs can often be a better approach. Similarly, some clients feel the urge to sell after periods of volatility. While every situation is different and there are cases where reducing exposure makes sense, selling in response to short-term market movements is usually the wrong approach for long-term investing. Advisors should therefore provide strong counselling during these periods.

  • DMFD on 07/02/2025 - 15:57
    +2

    This is a terrible ad. This is why I dont watch TV!

  • Poor Ass on 07/02/2025 - 15:59

    do you have your own AFSL or under a banner arrangement, ACL or TPB registration?

    • Splice89 on 12/02/2025 - 14:47

      Under another AFSL at present but hopefully have my own in the future.

      • Poor Ass on 12/02/2025 - 14:49

        Went through the process it was so hard

        But got it at the end

        • Splice89 on 12/02/2025 - 14:50

          Nice! You give me hope!

  • Aerith-Waifu on 07/02/2025 - 17:01

    What are your top 5 shares to buy? 2 blue chip, 1 growth and 2 specs

    • Splice89 on 12/02/2025 - 14:49

      Apologies for the response, but I’m hesitant to provide stock advice in this forum. The markets are constantly changing, and with updates happening regularly, I wouldn't want anyone to rely on this information in the future.

  • squaredonut on 07/02/2025 - 17:35

    I know that people all say diversify, but to diversify you really need to have a sound knowledge and understanding of all segments of the markets, e.g. when bonds go down then something else tends to go up, etc etc.

    But for people who don't have the time, mindset, etc, would it just be advisable to just regularly put money into an ETF and do it overtime, or is that a bad option?

    • JIMB0 on 07/02/2025 - 18:13
      +1

      ETFs are a great option except for the people who make their money charging an absorbent fee for funds under management.

      • Scrooge McDuck on 09/02/2025 - 16:20

        Thankfully, the fee can wipe away their tears.

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